PELORUS FOUNDATION
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net income of £28,203 for the year ended 31 December 2024, resulting in total unrestricted reserves of £11,272. The trustees note that this level is below their stated policy target of three to six months' expenditure, as substantial unrestricted funds were used during the year. However, the trustees consider the charity to be a going concern with adequate resources for the foreseeable future.
What the accounts disclose
“within the financial year the charity used a substantial amount of its unrestricted funds and as such is unable to maintain the reserves at this required level.”
“At the year end the charity owed £52,112 (2023 - £63,400) to Pelorusx Limited, a related party by virtue of the trustee, in respect of an interest free loan which is repayable on demand.” — page 18
“At the year end the charity owed £5,814 (2023 - £5,814) to Pelorus Adventures Limited, a related party by virtue of the trustee, in respect of an interest free loan which is repayable on demand. The charity was also owed £19,584 (2023 - £nil) by Pelorus Adventures Limited, a balance found within trade debtors.” — page 18
“At the year end the charity owed £52,112 (2023 - £63,400) to Pelorusx Limited, a related party by virtue of the trustee, in respect of an interest free loan which is repayable on demand.” — page 18
“At the year end the charity owed £5,814 (2023 - £5,814) to Pelorus Adventures Limited, a related party by virtue of the trustee, in respect of an interest free loan which is repayable on demand. The charity was also owed £19,584 (2023 - £nil) by Pelorus Adventures Limited, a balance found within trade debtors.” — page 18
Trustees
- George Mungo Pyne Mackay-Lewischair
- Elisabeth Laura Lewis-Jones
- Lord Hemeage James Daniel Guernsey
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £183k | £155k |
| 31/12/2023 | £255k | £257k |
| 31/12/2022 | £36k | £82k |
| 31/12/2021 | £64k | £14k |
| 31/12/2020 | £920 | £240 |
Common questions
Is PELORUS FOUNDATION financially healthy?
The accounts state that the charity reported a net income of £28,203 for the year ended 31 December 2024, resulting in total unrestricted reserves of £11,272. The trustees note that this level is below their stated policy target of three to six months' expenditure, as substantial unrestricted funds were used during the year. However, the trustees consider the charity to be a going concern with adequate resources for the foreseeable future. Its FY2024 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE HASLUCK CHARITABLE TRUST | 2 | £15k |
| CONSERVATION COLLECTIVE | 1 | £560k |
| THE ROTHSCHILD FOUNDATION | 1 | £500k |
| GARFIELD WESTON FOUNDATION | 1 | £250k |
| JOHN ELLERMAN FOUNDATION | 1 | £226k |
| THE DRW FOUNDATION | 1 | £109k |
| THE REGATTA FOUNDATION | 1 | £60k |
| THE LINBURY TRUST | 1 | £50k |